Belmont, MA Commercial Real Estate for Sale and Lease
Are you looking for commercial real estate in Belmont, MA? Look no further than Boston City Properties. Our comprehensive, searchable online real estate database includes up-to-the-second listings for commercial properties for sale in this town as well as in all other cities and towns in the state. Complete the form on this page for free, immediate access.
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What to Expect
This Middlesex County town borders Cambridge, so it's within very close proximity of Boston. With a population of around 25,000, it's large enough to have plenty to offer in terms of industrial space, retail space, office space and other types of commercial space. Quickly zero in on available options with our searchable listings.
Find Commercial Space in Belmont, MA
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Belmont is a large, active, and vibrant community in the Greater Boston area. As of 2016, it had a population size of just over 26,000 residents. This town was established in 1859 by residents of the neighboring communities of Watertown, which lies to the south, Waltham, which lies to the west, and Arlington, formerly called Cambridge, which is situated north of the town. The town was established on strictly Puritan principles, and it was set aside as a place that did not sell or permit the consumption of alcohol. To the relief of many businesses (primarily bars and restaurants) and residents, that attitude has since changed, and the town is home to many popular bars, taverns, and restaurants that serve beer, wine, craft cocktails and spirits. The town was established through the financial donations of John Perkins Cushing, who was the town’s largest financial donor and the proud owner of a beautiful 200-acre estate. The town’s Cushing Square is named in his honor, and it remains a vibrant place of activity to this day.
Belmont Commercial Investment Properties
With its proximity to Boston, ease of transportation to the city and prime living conditions for people, this town is poised to be a commercial and retail hub in the foreseeable future. It already has a solid business climate, which is fueled in large part by the economic stability of Boston and its surrounding areas. The recent trend in Boston has been the growth of the technological and start-up sectors, which are proving to be good fits for its innovative commercial environment. The medical, academic, and life science sectors, which have historically formed the backbone of Boston’s economy, remain strong to this day. Their solid growth is leading the way for more commercial enterprises to set foot in the area, as smaller companies generally seek the stability of an established anchor tenant. This town is a relatively affluent suburb, which means that there is demand for basic goods as well as consumer products and luxury items. This is good news for warehousing and manufacturing companies, including e-commerce brands like Amazon, who want to set up shop in a place where they can quickly and easily fulfill consumers’ demands for products. Adding to this is the fact that consumers want more products and want them in a shorter period of time. With its proximity to major transportation centers, including major arteries, shipping terminals, and air transportation via the Boston Logan International Airport, this town is perfectly situated to fill that demand in the near future. Adding to the town’s appeal for commercial investors is the fact that it was once a primarily agricultural community. This means that there has historically been, and still is, plenty of green and open space. Some green lands have been preserved, which makes them popular destinations for the public looking for outdoor recreational activities. Other lands are being sold or rented in combination with buildings for commercial tenants. This is a particularly valuable asset for prospective commercial tenants that require large amounts of land, such as multi-national companies wanting green campuses and shipping companies that need room for loading docks, trucks, manufacturing and other components of conducting business.
Belmont Office Space Market
The market for office space is quite active, as is the case with many other suburbs around Boston. At present, the commercial market is formed primarily of manufacturing businesses, which comprise about 43 percent of the market. Flexible use spaces a growing trend, as traditional businesses are looking to expand their operations and have all their services under one roof. In this town, one can find a mix of traditional commercial establishments such as medical offices, dentists, physical therapists and postal services. The town’s affluences also makes it a prime center for more higher end businesses and specialized services like cosmetic surgeons, high-end clothing and accessories shops, and jewelry shops. Home sales are expected to increase by over three percent in the next year, which means this a prime time for businesses to set up shop in the area. Good local public schools are also incentives for homeowners to move into the area, which in turn creates a lucrative market for commercial enterprises.
In the fourth quarter of 2017, there was about 12,819,000 SF of total commercial space available in the town and an 8.6 percent vacancy rate. The commercial market is comprised of Class A, Class B, and Class C buildings. Class A buildings are considered the premier choices for commercial tenants. They often have the best location, and they are either newer buildings with plenty of insulation, heating and air conditioning, and they may have modern amenities that older and more outdated buildings lack. Class A buildings are also the most accessible, which makes them coveted sites for businesses that thrive on human traffic to succeed. Class B buildings may still contain some modern amenities and enjoy a prominent location, but they are often lacking in at least one aspect of commercial properties, such as having a less accessible location for the general population to reach. For the first time, demand in this town for Class B buildings has surpassed demand for Class A establishments. While Class A buildings might be tailored to a specific use, such as making coffee or craft beers, Class B buildings are generally less specific. Therefore, tenants should be aware that they may have to make additional alterations and adjustment to make a building suitable for their needs. Class B buildings are considered adequate to decent in the amenities that they offer, which include location, visibility and quality of the building. Class C buildings cost the least amount to rent or own but are also the least hospitable. Class C buildings may or may not offer functional space. They are usually located in the least convenient locations and may not offer perks found in upper-level spaces like heating and air conditioning. Prospective tenants will find a variety of spaces available in all three classes in this town. An example of a Class C building on the market is an auto garage at Belmont Street, which is suitable for specific uses, has a minimal design and technology, and accepts negotiations on prices. An example of a Class B property is a large space located in Cushing Square that is established for use as a general office suite. The property resides in a beautiful brick building that features a visible location and a comfortable working environment. It is in a prominent location and quite accessible to the local population. This office suite is part of a building that was constructed in 1990 and is conveniently located to several major transportation hubs. As with other commercial spaces in the area, it can be adapted to a particular specialty use. The building has a negotiable rate and offers anywhere from 1,200 to over 4,000 SF. It is near restaurants and fitness centers, and advertised as having potential for those uses and more.
Belmont Retail Space Market
With a downtown center, a growing population and demand for conveniences like food, clothing and liquor, the market for retailers looking to set up shop in this charming town is promising. Retailers considering opening a storefront here should note that there are three distinct parts of the city. The three separate neighborhoods are Waverly Square, Belmont Center, and Cushing Square. Each has its own unique personality and attractions, and there are different types of retailers and attractions found in each one. Across all neighborhoods, there is promising opportunity for retailers, as the local population is supportive of eclectic and boutique shops. Retailers are moving into existing retail buildings, freestanding buildings and mixed use buildings that may include office spaces too.
There are many types of spaces available to choose from, which range from single spaces in shopping centers and strip malls to first-floor or bi-level spaces in centrally located buildings in the downtown area. Like commercial properties, there is quite a bit of variation in what retailers might find. Spaces vary considerably in size and location, which in turn affects their pricing. On average, a single retail space may cover about 1,000 SF, while larger spaces can exceed 2,500 SF and more. Tenants may find that their landlords are willing to make accommodations to meet their needs, such as offering the potential for expanding to space on a second or third level. Another valuable asset that some landlords offer is private parking, which is a particularly beneficial commodity closer to the city. Some spaces are designed for specific uses, such as bars and restaurants, while other spaces advertise the fact that they have a flexible design and can accommodate the needs of several types of businesses. Retailers will find other types of buildings to inhabit besides the brick buildings found closer to the downtown area, including modern buildings, repurposed warehouses that have been converted for commercial and retail use, and restored Victorian homes that can be used for non-residential purposes.
The age of the building where retailers are thinking of conducting business also factors into pricing for sales and rentals. Those looking to rent should be aware that there may be other fees associated with renting in this town, including monthly utilities, garbage removal and snowplowing. Some retailers may be able to get good deals on split-level units if they choose to occupy the lower level beneath an apartment. Retailers may find a standalone building or a strip mall with other retail establishments that they can join. Ideally, retailers (particularly those with small businesses) will find space in a building that contains at least one anchor tenant, such as a large box store like Walmart, Target or Costco. Co-habiting a space with an established anchor tenant can automatically bring more consumers to the retail store front, and investors and financers may be more willing to support a small retailer financially if the property is associated with a larger company that can more easily afford its monthly rent. With the rise of demand and vacancy for mixed and flexible-use spaces, which accounted for about a quarter of the commercial market in 2017, co-sharing among various types of retailers, and retailers and residents, is a growing trend. The benefit of this arrangement is that growth in the office space sector is increasing exponentially, which means that real estate companies are looking to attract and fill those voids. They may be willing to give retailers looking to fill those voids good deals.
Retailers looking to move closer to town will join a mix of businesses. Some establishments in the downtown area are cafes, law offices, craft beer breweries, yoga and pilates studios and pizza parlors. Some retailers belong to the Belmont Center Business Association, which was established in 1989 for the purpose of making the town’s environment more conducive and friendly for businesses. The business association seeks to connect the community and local organizations by offering employment for local citizens and selling consumer products that the population desires. Retailers looking to purchase or buy space in the downtown area, including Main Street, will find a quaint and quiet downtown area that is characterized by historic buildings, including many with brick fronts. There are many sidewalks and places to sit outside in the warm weather, which makes it an attractive environment for members of the community.
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